Reliance-BP invites bids for gas from KG-D6, priced against int’l benchmark
Reliance Industries and its partner UK’s BP Plc on Wednesday invited companies to bid for incremental gas it plans to produce from the second-wave discoveries in the KG-D6 block, pricing them for the very first time against an international gas benchmark.
While Reliance-BP had in November 2019 sold the first 5 million standard cubic meters per day of gas from the R-Series field in the KG-D6 block, the duo has now invited bids for 7.5 mmscmd of incremental output that is likely to be available from February next year, according to a notice inviting offer.
They have priced the first 5 mmscmd of gas against Brent crude oil but now they are seeking rates equivalent to JKM or Japan/Korea Liquefied Natural Gas Import Price.
